Michael Klein |
MORRISTOWN, NJ– JLL Capital Markets secured the $13.6 million acquisition loan for 107 How Lane, a 35,800-square-foot industrial property on 6.42 acres in New Brunswick, New Jersey.
JLL worked on behalf of Ridgecut Road to secure the three-year, floating-rate acquisition loan through Byline Bank.
The property is comprised of 6.42 acres of outdoor storage and truck parking along with three buildings totaling 10,300 square feet, 19,500 square feet and 9,000 square feet.
The buildings feature 24- to 28-foot clear heights and 26 dock
positions. The property offers tremendous functionality for a deep pool of
industrial tenancy with operations ranging from truck/trailer parking to
various types of industrial outdoor storage (IOS).
Max Custer |
The
JLL Debt Advisory team was led by Senior Managing Director
Michael Klein,
Director Max Custer and Senior Analyst Benjamin Morgenthal.
"We
are excited to have facilitated the acquisition financing for 107 How Lane in
New Brunswick," said Klein. "This property offers exceptional
transportation connectivity, specifically tailored to meet the needs of the
industrial and trucking sectors. It is a testament to the strength of the
market and the value that this property holds."
Benjamin Morgenthal |
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers. The firm's in-depth local market and global
investor knowledge delivers the best-in-class solutions for clients — whether
investment sales and advisory, debt advisory, equity advisory or a
recapitalization. The firm has more than 3,000 Capital Markets specialists
worldwide with offices in nearly 50 countries.
For
more news, videos and research resources, please visit JLL’s newsroom.
Contact:
Grace Lewis, JLL PR
Phone: +1 903 520 3478
Email: grace.lewis@jll.com
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